Stock Quotes in this Article: CAJ, ENDP, QIHU, PAMT

WINDERMERE, Fla. (Stockpickr) -- Professional traders running mutual funds and hedge funds don’t just look at a stock’s price moves; they also track big changes in volume activity. Often when above-average volume moves into an equity, it precedes a large spike in volatility.

Major moves in volume can signal unusual activity, such as insider buying or selling -- or buying or selling by “superinvestors.”

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Unusual volume can also be a major signal that hedge funds and momentum traders are piling into a stock ahead of a catalyst. These types of traders like to get in well before a large spike, so it’s always a smart move to monitor unusual volume. That said, remember to combine trend and price action with unusual volume. Put them all together to help you decipher the next big trend for any stock.

With that in mind, let's take a look at several stocks rising on unusual volume today.

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Parametric Sound

Parametric Sound (PAMT) is a sound technology company focused on delivering directed parametric sound solutions to customers primarily in digital signage, point-of-purchase, in-store networks and related markets that benefit from sound that can be focused and controlled in specified locations. This stock is trading up 6.3% at $17.32 in recent trading.

Today’s Volume: 337,000

Average Volume: 277,933

Volume % Change: 54%

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From a technical perspective, PAMT is ripping higher here with above-average volume and is showing a continuation chart pattern after the stock recently found buying interest right off its 50-day moving average of $14.33. This move is quickly pushing shares of PAMT within range of triggering a near-term breakout trade. That trade will hit if PAMT manages to take out some near-term overhead resistance at $17.96 with high volume.

Traders should now look for long-biased trades in PAMT as long as it’s trending above today’s low of $16.27 and then once it sustains a move or close above $17.96 with volume that hits near or above 277,933 shares. If that breakout triggers soon, then PAMT will set up to re-test or possibly take out its next major overhead resistance levels at $19 to $21. Any high-volume move above $21.99 would then push PAMT into all-time high territory, which is bullish technical price action.

Canon

Canon (CAJ) develops, manufactures and markets a growing lineup of copying machines, printers, cameras and industrial and other equipment. This stock is trading up 2% at $38.02 in recent trading.

Today’s Volume: 705,000

Average Volume: 670,584

Volume % Change: 60%

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From a technical perspective, CAJ is bouncing higher here right off some near-term support at $37 and right above its 50-day at $36.06 with above-average volume. This move has started to push shares of CAJ into breakout territory, above some near-term overhead resistance at $37.26. Shares of CAJ are now quickly moving within range of triggering another major breakout trade. That trade will hit if CAJ manages to clear some near-term overhead resistance at $38.75 with high volume.

Traders should now look for long-biased trades in CAJ as long as it’s trending above $37 and then once it sustains a move or close above $37.26 to $38.75 with volume that hits near or above 670,584 hares. If that breakout hits soon, then CAJ will set up to re-test or possibly take out its next major overhead resistance levels at $40.43 to $40.94.

Endo Health Solutions

Endo Health Solutions (ENDP) researches, develops, sells and markets branded and generic prescription pharmaceuticals used to treat and manage pain. This stock is trading up 2.7% at $35.80 in recent trading.

Today’s Volume: 4.59 million

Average Volume: 2.74 million

Volume % Change: 154%

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From a technical perspective, ENDP is bouncing higher here right above some near-term support at $34 with heavy upside volume. This move is quickly pushing shares of ENDP within range of triggering a major breakout trade. That trade will hit if ENDP manages to take out its 52-week high at $36.30 with high volume.

Traders should now look for long-biased trades in ENDP as long as it’s trending above some key near-term support at $34 and then once it sustains a move or close above $36.30 with volume that hits near or above 2.74 million shares. If that breakout triggers soon, then ENDP will set up to re-test or possibly take out its next major overhead resistance levels at $39 to $39.29.

Qihoo 360 Technology

Qihoo 360 Technology (QIHU) is engaged in the operations of Internet services and sales of third-party anti-virus software in the People's Republic of China. This stock is trading up 3.3% to $31.47 in recent trading.

Today’s Volume: 2.13 million

Average Volume: 2.09 million

Volume % Change: 50%

From a technical perspective, QIHU is ripping higher here back above its 50-day moving average of $30.66 with above-average volume. This move has also started to push shares of QIHU into breakout territory, since the stock has taken out some near-term overhead resistance at $30.89.

Traders should now look for long-biased trades in QIHU as long as it’s trending above its 50-day at $30.66 or above that breakout level at $30.89 with strong upside volume flows. I would consider any upside volume day that registers near or above 2.09 million shares as bullish. If QIHU can maintain that trend, then this stock will set up to re-test or possibly take out its next major overhead resistance levels at $33 to $34.90.

To see more stocks rising on unusual volume, check out the Stocks Rising on Unusual Volume portfolio on Stockpickr.

-- Written by Roberto Pedone in Winderemere, Fla.

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At the time of publication, author had no positions in stocks mentioned.

Roberto Pedone, based out of Windermere, Fla., is an independent trader who focuses on technical analysis for small- and large-cap stocks, options, futures, commodities and currencies. Roberto studied international business at the Milwaukee School of Engineering, and he spent a year overseas studying business in Lubeck, Germany. His work has appeared on financial outlets including CNBC.com and Forbes.com. You can follow Pedone on Twitter at www.twitter.com/zerosum24 or @zerosum24.